Valentino Rossi sets up VR46, his own Marketing Management Firm
By Michele Lostia
Valentino Rossi has set up a new company that will manage his public image, sponsorships, merchandise and contracts.
The limited company, named VR46 Srl after the Yamaha rider’s initials and race number, was officially established on 14 February 2008, just two days after Rossi put an end to his tax dispute with Italy’s tax agency, according to Gazzetta dello Sport.
After being accused last year of evading taxes since 2000, when he officially moved to Great Britain to allegedly take advantage of favourable tax conditions, Rossi agreed to pay 35 million euros ($51 million) and move back to Italy earlier this month.
The new company, whose legal and administrative address is in Pesaro, near the rider’s hometown of Tavullia, effectively replaces Great White London, the UK-based company that managed Rossi’s business and that was run by his now ex-manager Gibo Badioli.
According to the company’s charter, VR46 will be managed by Valentino Rossi alone, even though there have been unconfirmed reports that Yamaha team manager Davide Brivio has now replaced Badioli in the role of Rossi’s manager.